Seoul: South Korean stocks climbed to their highest level in approximately a month as anticipation grew for upcoming tariff discussions with the United States, alongside hopes for reduced Sino-U.S. trade tensions. The local currency remained steady against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) increased by 38.92 points, or 1.57 percent, closing at 2,525.56. This marked the highest level since March 28, when the index closed at 2,557.98. Trade volume was moderate, with 529.94 million shares valued at 7.67 trillion won (US$5.39 billion) changing hands, as 627 stocks advanced compared to 254 that declined.
Institutions were net buyers, acquiring 686.07 billion won worth of stocks, while individual investors and foreign entities offloaded 549 billion won and 196.71 billion won worth of shares, respectively. The index opened significantly higher, reflecting gains from Wall Street, and sustained this momentum throughout the session.
Investors responded positively to comments from U.S. Treasury Secretary Scott Bessent, who expressed expectations for a de-escalation in the trade war with China and anticipated a forthcoming deal. Attention is also focused on the tariff talks scheduled in Washington on Thursday (U.S. time), following the announcement by the Donald Trump administration of a 90-day pause on the 25 percent reciprocal tariffs on South Korean imports.
Industry Minister Ahn Duk-geun, en route to Washington, informed reporters that South Korea aims to seek "a swift solution" regarding auto tariffs and plans to conduct consultations on trade, shipbuilding, and energy cooperation "in a calm and prudent manner."